EARNINGS ALERT: CHGG
Portfolio Pulse from
Chegg's stock plummets after a slight beat on 3Q earnings, as 4Q guidance falls below Wall Street estimates due to lower college enrollment and the rise of A.I.
November 12, 2024 | 10:00 pm
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Chegg's stock dropped significantly after the company reported a slight beat on its 3Q earnings but provided 4Q guidance that was below Wall Street expectations. The company is facing challenges from lower college enrollment and the rise of A.I.
Chegg's stock price is likely to decline in the short term due to the negative market reaction to its 4Q guidance, which fell below expectations. The company's challenges with lower college enrollment and the impact of A.I. further contribute to investor concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100